Australia to allow competition for ASX's cash-clearing activities

March 29, 2016 11:18 PM

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SYDNEY Australian Treasurer Scott Morrison said on Wednesday that he will introduce laws intended to end the Australian Securities Exchange Ltd's (ASX.AX) monopoly on equities cash-clearing activities and allow competition.

Morrison also said he would relax a law that limits individual shareholdings in the ASX to 15 percent, allowing larger shareholdings in Australia's biggest securities exchange.